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Resource-rich countries tend to experience slower economic growth and more social problems than do less-endowed countries—a phenomenon dubbed the “resource curse.” But it turns out that in many cases, economic growth begins to underperform long before the first drop of oil is produced; this we call the “presource curse.”In a recent research paper, we found that,…See More

The Mongolian government recently announced a USD 5.5 billion bailout agreement with the International Monetary Fund (IMF) and other development partners, including the World Bank, the Asian Development Bank and the governments of Japan and South Korea. In return, Mongolia approved a limited and revenue-focused set of reforms. Budget amendments passed in April included increases in personal income tax rates, increases in fuel, alcohol and tobacco taxes, and a public service wage freeze.The…See More

The Mongolian government recently announced a USD 5.5 billion bailout agreement with the International Monetary Fund (IMF) and other development partners, including the World Bank, the Asian Development Bank and the governments of Japan and South Korea. In return, Mongolia approved a limited and revenue-focused set of reforms. Budget amendments passed in April included increases in personal income tax rates, increases in fuel, alcohol and tobacco taxes, and a public service wage freeze.The…See More

We have published a blog commenting on the announcement of an IMF bailout for Mongolia, which you can read here: http://www.resourcegovernance.org/blog/mongolia-crisis-averted-for-nowOur findings build on the results from using our latest tool, a user-friendly macro-fiscal model to analyze how different shocks or policy changes - especially in the mining sector - would impact the trajectory of the economy.Find…See More

NRGI has developed a new tool linking resource sector developments to a detailed picture of Mongolia’s economy and budget in order to inform ongoing discussions on pressing fiscal issues and long-term sustainability.It incorporates project level models of the country’s five largest mine, a semi structural macroeconomic model and detailed budget forecasts. It projects a baseline scenario of the economy and describes how different shocks or policy changes would impact the trajectory of key…See More

"Thank Bryan! I am actually on my way back from work in Mongolia looking at debt sustainability.
Indeed, another case where gov debt piled up on the expectation of mining wealth, but also one where shifting project timelines, opaque borrowing and…"

The International Monetary Fund and the World Bank are currently undertaking a review of their debt sustainability framework for low-income countries. We at the Natural Resource Governance Institute submitted comments on how the framework could better address the particular debt sustainability challenges faced by resource-rich countries.…See More

The International Monetary Fund and the World Bank are currently undertaking a review of their debt sustainability framework for low-income countries. We at the Natural Resource Governance Institute submitted comments on how the framework could better address the particular debt sustainability challenges faced by resource-rich countries.…See More

Let’s imagine a country with a large resource deposit. In this country, the government grants a private company license to extract it. In a given year of production, the company extracts USD 1 billion worth of resources and then pays a 30% share—USD 300 million—through several channels of taxation to the host government. Citizens who observe similar numbers in company, government and watchdog reports are left wondering whether such a ratio is high or low—essentially, if it represents a good or…See More

This is a series of case studies that illustrates the principles of the Natural Resource Charter. The charter is a tool used by governments and societies seeking to better harness the opportunities created by extractive resources. The charter is organized around 12 core precepts offering guidance on key decisions governments face, beginning with whether to extract resources and ending with how generated revenue can…See More

NRGI is excited to launch the public alpha version of ResourceProjects.org.ResourceProjects.org is an open-source repository of data on oil, gas and mining projects across the world. It provides a platform to collect, display, download and search extractive project information using open data. It aims to harvest data on project-by-project payments to governments—based on recent mandatory disclosure legislation in the EU, U.S. and…See More

David Mihalyi's Blog

Resource-rich countries tend to experience slower economic growth and more social problems than do less-endowed countries—a phenomenon dubbed the “resource curse.” But it turns out that in many cases, economic growth begins to underperform long before the first drop of oil is produced; this we call the “presource curse.”

The Mongolian government recently announced a USD 5.5 billion bailout agreement with the International Monetary Fund (IMF) and other development partners, including the World Bank, the Asian Development Bank and the governments of Japan and South Korea. In return, Mongolia approved a limited and revenue-focused set of reforms. Budget amendments passed in April included increases in personal income tax rates, increases in fuel, alcohol and tobacco taxes, and a public service wage…

Our findings build on the results from using our latest tool, a user-friendly macro-fiscal model to analyze how different shocks or policy changes - especially in the mining sector - would impact the trajectory…

NRGI has developed a new tool linking resource sector developments to a detailed picture of Mongolia’s economy and budget in order to inform ongoing discussions on pressing fiscal issues and long-term sustainability.

It incorporates project level models of the country’s five largest mine, a semi structural macroeconomic model and detailed budget forecasts. It projects a baseline scenario of the economy and describes how different shocks or policy changes would impact the trajectory…